Outsourced drug discovery market analysis | Coherent Market Insights

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• OUTSOURCED DRUG DISCOVERY MARKET ANALYSIS
• Outsourced Drug Discovery Market by Drug Type
  (Small Molecule Drugs and Large Molecule Drugs),
  by Services (Preclinical Developments, Target
  validation and Functional Informatics, Target
  Identification and Screening, Lead Identification
  and Candidate Optimization, and Others), by
  Application (Oncology, Ophthalmology, Hematology,
  Immunomodulation, Anti-Infective Drugs,
  Dermatology, Neurology, Cardiology, and Others),
  by End Users (Pharmaceutical and Biotechnological
  Companies, Contract research Organization, and
  Contract Manufacturing Organization), by Region
  (North America, Latin America, Europe, Asia
  Pacific, Middle East, and Africa) - Size, Share,
  Trends, and Forecast 2019 - 2026

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• Outsourcing is a strategy, by which a
  pharmaceutical company hires another company such
  as contract research organization for planned and
  existing activities including drug discovery,
  preclinical development, and clinical research.
  Outsourcing is an agreement between contract
  research organization and pharmaceutical,
  biotechnological, and chemical industries.
  Contract research organizations (CROs) manage
  almost all aspects of drug discovery including
  clinical data management, data entry and
  validation, safety and efficacy summaries,
  medicine and disease coding, quality and metric
  reporting, validation programming, statistical
  analysis plans and reports, and final study
  report.
• The global outsourced drug discovery market was
  valued at US 20.7 billion in 2017, and is
  expected to witness a CAGR of 12.1 during the
  forecast period (2019 2026).

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• Figure 1. Global Outsourced Drug Discovery Market
  Value Analysis (US Mn), By Drug Type

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• Increasing number of drug discovery companies is
  expected to drive growth of the global outsourced
  drug discovery market
• Increasing number of new drug discovery companies
  is expected to drive the global outsourced drug
  discovery market growth. For instance, in
  November 2018, Schrodinger, LLC collaborated with
  Wuxi AppTec and launched new drug discovery
  company, Faxian Therapeutics (Headquarter New
  York, U.S.). Faxian Therapeutics will utilize the
  Schrodinger, LLCs computational platform and
  WuXis drug design and synthesis services to
  improve health care needs.
• Moreover, rising drug discovery services is
  expected to propel growth of global outsourced
  drug discovery market. For instance, in April
  2019, Eurofins Discovery Services, a contract
  research organization, launched new drug
  discovery service DiscoveryOne. The new approach
  is helpful for the drug discovery research
  activities and preclinical developments. Hence,
  launching of services related to drug discovery
  is expected to support the global outsourced drug
  discovery market growth.

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Global Outsourced Drug Discovery Market- Regional
Analysis

• North America outsourced drug discovery market is
  expected to account for the largest market share,
  owing to business expansion in this region. For
  instance, in January 2019, Lambda Therapeutic
  Research (Headquarter-India) acquired Novum
  Pharmaceutical Research Services, a U.S. CRO.
  With this acquisition, Lambda Therapeutic
  Research entered into the U.S. market.
• Moreover, Europe is also projected to witness
  significant growth in the global outsourced drug
  discovery market, owing to increasing merger and
  acquisition activities by key players in the
  region. For instance, in February 2019,
  Optimapharm, a clinical research organization
  (CRO) in Europe acquired Denothex, a CRO, for
  strengthening its presence in the European market
  particularly in France, Spain, Switzerland, and
  Italy. Denothex conducts all clinical trials in
  oncology across Europe and Israel.

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Figure 2 Global Outsourced Drug Discovery Market
Share (), (2018 2026) By Region,

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Global Outsourced Drug Discovery Market -
Competitive Landscape

• Key players operating in the global outsourced
  drug discovery market are Aurigene Accelerating
  Discovery, Bioduro LLC, Charles River
  Laboratories (CRL), Chempartner, TCG
  Lifesciences, Evotec AG, Syngene International
  Ltd., Jubilant Biosys Ltd, Pharmaron Inc.,
  Shanghai Medicilon, and Sundia Meditech Co. Ltd.

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